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June 27, 2022

U.S. Regional Manufacturing Readings Continue To Show Decline

Connecting the Dots monitors all major economic announcements in the United States and Canada, but MSCI also offers industrial metals industry-specific data products that provide much deeper analysis and insight. Visit MSCI’s website and click on Industry Data to learn more about our Metals Activity Report (MAR), Momentum Monitors, and Economic Opportunity and Risk Tracker.

Meanwhile, here are the major economic headlines from the last week:

  • The Federal Reserve Bank of Kansas City’s manufacturing index fell to +12 in June from +23 in May. The slower pace of factory growth was driven by decreased activity at durable goods plants, especially electrical equipment, transportation equipment, and furniture related product manufacturing. Read the full report here.
  • Sales of new single‐family homes in the United States increased 10.7 percent from April 2022 to May 2022, but fell 5.9 percent between May 2021 and May 2022. Read the full report hereSales of existing homes were down 3.4 percent for the month and 8.6 percent from May 2021.
  • According to the U.S. Department of Labor,  229,000 individuals filed for federal unemployment benefits during the week that ended June 18, a decrease of 2,000 from the previous week’s level. The four-week moving average of first-time claims was 223,500, an increase of 4,500 from the previous week. During the week that ended June 11, 1.315 million individuals continued to receive federal jobless benefits, up from 1.31 million the week before. The four-week moving average of continuing claims fell, however.
  • In other economic news: Statistics Canada announced the number of job vacancies at the beginning of April 2022 was more than one million, up more than 40 percent compared with a year earlier; Canadian retail sales rose 0.9 percent to $60.7 billion in April; and the University of Michigan’s consumer sentiment index fell from 58.4 in May to 50.0 in June. Read that full report here.

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